Synthetic Biology Market Size Worth $55,371.1 Million By 2030

Synthetic Biology Market Growth & Trends

Synthetic Biology Market Report Highlights

  • By technology, the PCR segment held the largest share of the market. This is attributed to the accelerated development in modern life science, with PCR technology being widely employed in numerous fields of medical research, virus detection, and the food & beverage industry
  • The genome-editing segment is expected to grow steadily during the forecast period. It enables researchers to modify the DNA of various organisms, including plants, bacteria, and animals, and their demand is expected to skyrocket in the coming years
  • By product, Oligonucleotide and Synthetic DNA is anticipated to have the larger market share in 2030. The falling price of synthesis and increasing requirement for synthetic DNA, RNA, and genes that are employed in numerous applications contribute to the segment growth
  • By application, the healthcare segment held a larger global market share. This is attributed to an increase in drug screening and discovery. Moreover, the use of synthetic biology can reduce the cost of drug discovery and propel market growth
  • By end-user, the biotechnology and pharmaceutical companies segment held a larger share in 2021, owing to the growing availability of modern research facilities, favorable legislation, and government assistance and funding
  • North America was positioned as the dominant market in 2021 due to the presence of high R&D investment, the availability of technologically advanced healthcare research frameworks, and the development of the synthetic biology market in the region
  • The Asia Pacific is expected to witness considerable growth in the future owing to the rising development of personalized treatment and the presence of key players

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Rajesh Varma

Hello guys I am Market Research Analyst @ Grand View Research, preparing and publish research report on Technology, Next Generation Technologies